13U Alhambra - 3111 W. Ramona Road
Cal State LA Adjacent | 5 Min to DTLA | Main St Alhambra | Value-Add
Marketing description
3111 W Ramona Road is a 13-unit apartment building located in the desirable Midwick Park & Alhambra Hills Historic Neighborhood of Alhambra, California. Built in 1954, the property consists of approximately 11,778 square feet of improvements situated on an 11,253 square foot (.26 acre) lot. The building is zoned ALRPD and offers a well-balanced unit mix designed to support long-term tenancy and stable occupancy.
The property is offered at $3,700,000 ($284,615 per unit / $314 per square foot) and presents investors with strong in-place income and over 10% rental upside to market. Current annual NOI is approximately $166,948 with projected market NOI of approximately $187,289.
Ownership has completed several meaningful capital improvements, reducing deferred maintenance and strengthening operational efficiency.
3111 W. Ramona Road offers investors the opportunity to acquire a well-maintained, stabilized asset in a strong San Gabriel Valley submarket with durable tenant demand and measurable remaining upside.
Investment highlights
- 13-Unit Apartment Building
- Built in 1954
- 11,778 SF Building
- 11,253 SF Lot (.26 Acres)
- Zoned ALRPD
- 11 Carports with Ample Street Parking
- 24 On-Site Storage Lockers
- All Double-Pane Windows
- Partial Copper Plumbing
- New Roof (2021)
- New Electrical Panels
- Individual Water Heaters
- 10%+ Rental Upside
- Stable Infill Location within Established Residential Neighborhood
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